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3 years ago

Fit & Slim (F&S) is a health club that offers members various gym services.

Business

1 answer:

Hoochie [10]3 years ago

6 0

Answer:

a. they are separate performance obligations

normal price of annual membership = $1,140

one yer enrollment in yoga = $600 x (30% - 10%) = $120 x 50% = $60

total $1,200

% of price allocated to:

annual membership = ($1,140 / $1,200) x $1,100 = $1,045

discount voucher = $1,100 - $1,045 = $55

b. the journal entry should be

Dr Cash 1,100

Cr Unearned revenue, membership fees 1,045

Cr Unearned revenue, discount voucher 55

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Which of the following situations might convince an employer to choose a nonqualified retirement plan over a qualified profit-sh

Vinil7 [7]

Answer:

All the options might convince to an employer to choose a nonqualified retirement plan over a quialified plan.

en A). the owner of the corporation would use a nonqualified plan because the income tax rate of the business is lower than the owner´s tax rate.

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3 years ago

5. A business in its first period of trading charges $4,000 of sales tax on its sales and suffers $3,500 of sales tax on its pur

Katyanochek1 [597]

The unrecoverable sales tax on business entertaining ($250) has been deducted from $3,500

solution

SALES TAX CONTROL ACCOUNT

Payable s $ 3250 Receivables $4000

Balance c/d (owned to tax authority) $ 750

------------- ---------------

$ 4000 $4000

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By balance b/d $ 750

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3 years ago

The manager of a chain of fast-food restaurants has noticed that the number of breakfast customers has fallen by 50 percent in t

Darya [45]

Answer:

c. make an accurate diagnosis of what is causing the problem

Explanation:

The manager of the fast-food restaurant should understand the underlying problem first. Working on the assumption that it's because of a competitor marketing campaign may not give the desired results. A customer's preference may change due to many reasons.

The manager should make an accurate diagnosis of the problem first. With a precise reason as to why customers as fleeing, then he can develop a counter-strategy. Retaining the current member of the crew will not reverse the situation. Reducing prices may affect profitability, which is not the desired result. With low prices, some customers may question the quality of the breakfast.

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3 years ago

Select all that apply. Select the items that describe what happens at the equilibrium price. Producers supply the exact goods th

malfutka [58]

Answers are:
Producers supply the exact goods that consumers buy.
Consumers have enough goods, at the given price
Producers use their resources efficiently

At the equilibrium price, the quantity bought= quantity sold. Consumers have enough goods at the given price, meaning that there isn't anyone who wants to buy the good at that price but can't, and producers use their resources efficiently.

The whole economy does not waste resources, since this is the market-efficient outcome, and there aren't many shortages or surpluses for the same reason.

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3 years ago

Anita Job is the new Treasury Secretary, and she is trying to interpret the inflation measures for two consecutive years. In yea

sladkih [1.3K]

Answer:

Anita uses Consumer Price Index (CPI) as the term to describe the change in the price level from year one to year two.

Explanation:

Since Inflation is measured as the rate of change of those prices from 9% in year 1 to 5% in year 2. The most well-known indicator of inflation is the Consumer Price Index (CPI), which measures the percentage change in the price of a basket of goods and services consumed by households.

Therefore, the Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care. It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them

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3 years ago